Where Do You Get Cashier’s Checks and What Do You Need?
Demystify how to get a cashier's check. This guide clarifies the necessary preparations and process for obtaining this secure, bank-guaranteed payment.
A cashier’s check represents a secure form of payment. It is a check guaranteed by the issuing bank or financial institution, meaning the funds are drawn directly from the bank’s own account, not an individual’s. This mechanism provides assurance to the recipient that the check will not be returned due to insufficient funds. Cashier’s checks are commonly requested for substantial transactions, such as real estate purchases or vehicle acquisitions.
Primary Sources for Cashier’s Checks
Cashier’s checks are primarily issued by financial institutions like commercial banks and credit unions. These institutions typically provide this service to their account holders. It is generally recommended to contact one’s own bank or credit union first, as they are most familiar with your account and can facilitate the process efficiently.
While most institutions prefer to issue cashier’s checks to their customers, some may extend the service to non-account holders. This is less common and often involves stricter verification procedures or higher service fees. Non-account holders would generally be required to pay the full amount of the check in cash upfront.
What You Need to Obtain a Cashier’s Check
Before obtaining a cashier’s check, gather specific information and items. You will need the exact amount for which the check should be made, as this amount cannot be altered once the check is issued.
Additionally, the full legal name of the payee must be provided. Financial institutions cannot issue a blank cashier’s check. A valid government-issued photo identification, such as a driver’s license or passport, is also required to verify your identity.
You must have sufficient funds available in your account to cover the check amount, or cash if you are a non-account holder and the institution permits it. The bank will deduct the funds from your account immediately upon issuing the check. If applicable, any specific details for the memo line should also be prepared.
Steps to Getting a Cashier’s Check
Once you have gathered the necessary information, the process of obtaining a cashier’s check is straightforward. Approach a teller or customer service representative at your bank or credit union. Clearly state your request for a cashier’s check.
Provide the precise check amount, the full legal name of the payee, and your government-issued identification. The teller will ask for the source of funds, typically from an account withdrawal or cash.
After the cashier’s check is prepared, carefully review it for accuracy before leaving the counter. Verify that the payee’s name and the dollar amount are correct. The financial institution will usually charge a fee for issuing a cashier’s check, which typically ranges from $10 to $20.
This fee is often debited from your account, or paid in cash if you are not an account holder. Finally, ensure you obtain a receipt for the transaction. This receipt serves as proof of purchase and can be important if the check is lost or stolen.